Homework: Week #4 Chapter #7 Sav Score: 0 of 1 pt 5 of 7 (3 complete) HW Score: 41 86%, 293 of 7 E22-27 (similar to) Mason Company projects the following sales for the first three months of the year $13,500 in January, $10,100 in February, and $11,100 in March The company expects 60 % otesales to be cash an Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar Read the requirements dthe remainder on account Sales on account are collected 50% in the month of the sale and 50% inthe folost g month The Requirement 1. Prepare a schedule of cash receipts for Mason for January, February, and March unused and zero balance account cells blank, do not enter ) Cash Receipts from Customers What is the balance in Accounts Receivable on March 312 L.eave January February MarchTotal Total sales 13500 10100 11100 Jnuary February March Total Cash Receipts from Customers: January Cash sales January-Credit sales, collection of January sales in January January Credit sales, collection of January sales in February sales sales in February February Credit sales, collection of February February-Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Total cash receipts from customers Accounts Receivable balance, March 31: Credit sales, collection of March sales in April Enter any number in the edit fields and then click Check Answer Clear All Check Answer emaining